Italy’s Withdrawal from the Energy Charter Treaty: Which Consequences for Foreign Investors?

I. Premise Italy is reported from many sources to have withdrawn from the Energy Charter Treaty (“ECT”), through a formal notice sent to the Energy Charter Secretariat, according to the available information, in January 2015. [1] The news appears to be confirmed by the Ministry of the Economic Development (Ministero dello Sviluppo Economico, “MISE”) that declared to journalists that Italy’s decision is justified in light of the need to reduce the costs related to the participation to international organizations. As a matter of fact, article 8 of Law no. 190/2014 provides for the renegotiation of several international agreements, including the ECT, with the purpose of reducing the costs implied i